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“After withholding taxes, Katz received approximately 66,688 shares of Vail Resorts stock from the SARs exercise, all of which will be donated either in the form of a donation of shares or a donation of cash proceeds that were received from the sale of shares,” according to a Vail news release.

Stock appreciation rights are bonuses paid to employees and executives that function like stock options.

Katz made similar donations in the amounts of $31 million and $58 million in 2017 and 2018.

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“After withholding taxes, Katz received approximately 66,688 shares of Vail Resorts stock from the SARs exercise, all of which will be donated either in the form of a donation of shares or a donation of cash proceeds that were received from the sale of shares,” according to a Vail news release.

Stock appreciation rights are bonuses paid to employees and executives that function like stock options.

Katz made similar donations in the amounts of $31 million and $58 million in 2017 and 2018.

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